Aurora Private Wealth Inc. Invests $4.41 Million in GE Vernova Inc. (NYSE:GEV)

Aurora Private Wealth Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,455 shares of the company's stock, valued at approximately $4,413,000. GE Vernova makes up about 1.1% of Aurora Private Wealth Inc.'s investment portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Capital International Investors lifted its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC lifted its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GEV shares. Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Guggenheim restated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their price objective for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Royal Bank Of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Finally, Bank of America boosted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $440.04.

GE Vernova Stock Up 2.4%

NYSE GEV traded up $12.28 during trading hours on Friday, hitting $517.35. 1,809,150 shares of the company were exchanged, compared to its average volume of 3,313,458. The company has a 50 day moving average of $461.19 and a two-hundred day moving average of $383.19. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $532.59. The firm has a market cap of $141.20 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.